Email
marketing is a simple way to keep in touch with your customers. You don't have
to worry about it being spammy or intrusive—it's just an email. But for some
brands and businesses, though, it can be difficult to know whether your email
marketing efforts are working. Tracking metrics is essential for the success of
any marketing campaign, and that's even more true when you're relying on emails
alone. When it comes to email marketing KPIs,
be sure to follow these metrics. According to Maropost, “By paying attention to
your metrics, you can be far more successful with your marketing campaigns.”
Average order value
Average
order value (AOV) is simply the average amount of money you make on each sale.
To calculate AOV, you'll need to know your number of orders and the total
revenue from those orders. There are a few factors that can affect your AOV:
- Your list size—the more emails in your database, the higher the chance people will buy from you.
- Product price points—higher prices mean a higher chance someone will spend more money.
- Percentage deals—discounts make customers feel like they're getting a good deal, so they may be more likely to buy one or two items instead of just one.
Conversion rate
Conversion
rate is the percentage of visitors who take a specific action on your site,
such as signing up for a newsletter or making a purchase.
Conversion
rates can vary widely depending on your site type and the products or services
you offer. For example, if you're selling books online, then sending people to
Amazon directly from your email campaign might result in better conversions
than if they were sent to your own product page instead.
Open rate
Open
rate is the number of people who open your email divided by the total number of
people who received your email.
To
calculate your open rate, take the following steps:
- Find out how many people opened the email. This can be done in a variety of ways, including using a marketing automation platform and sending an automated follow-up email that asks recipients to click a link indicating whether or not they opened it.
- Calculate the percentage of opens out of all sent emails (i.e., divide # sent by # opened). This will give you an indication of how well your message resonated with those who received it. Consider looking at this metric over time to see engagement trends and adjust accordingly.
Deliverability rate
It's
important to track the deliverability rate of your emails. This is the
percentage of emails that make it into the inbox, not some junk folder or the
spam box. The deliverability rate is a key metric for measuring how well your
email marketing campaign works and can be improved by using a reputable email
service provider (ESP).
Bounce rate
Bounce
rate is the percentage of emails that bounce back from a recipient's email
server. This can happen if the address is invalid, or it could mean that you're
sending it to a spam trap. A high bounce rate is often an indicator that your
list needs to be appropriately maintained: people are maybe receiving too many
emails from you, or you're sending them to an email address they don't
recognize anymore.
As
you've seen, there are several valuable metrics you can track to measure the
success of your email marketing strategy. First, by tracking these metrics and
adjusting accordingly, you can improve your ability to drive sales and
conversions from your email campaigns.
